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Tether has strategically expanded its stablecoin offerings to The Open Network (TON), a blockchain platform originally developed by Telegram.
This integration introduces Tether’s USDT, which holds a $108 billion market cap, and XAUT, a gold-backed stablecoin, onto TON’s ecosystem.
Ethena’s USDe, a synthetic US dollar protocol on Ethereum, has quickly gained traction with a market cap exceeding $2 billion.
Unlike traditional stablecoins, USDe is not backed by physical US dollars or over-collateralized with cryptocurrencies.
The financial system is witnessing a transformative change as Circle announces a groundbreaking development. Investors holding shares in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) can now seamlessly exchange their tokenized real-world assets for USDC.
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The US Treasury is raising alarms over Russia’s alleged use of the stablecoin Tether (USDT) to bypass international sanctions and sustain its military operations.
Undersecretary Wally Adeyemo highlighted this concern in a statement to the Senate Committee on Banking, Housing, and Urban Affairs.
In 2023, Tether made waves in the financial sector by generating an astonishing $6.2 billion in net income. According to Teddy Fusaro, president at Bitwise, this figure closely competes with banking giants like Goldman Sachs and Morgan Stanley.
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Andre Cronje, a renowned DeFi architect, has cast a speculative gaze upon Ethena Protocol’s stablecoin, USDe, probing its potential to follow the tumultuous path of TerraUSD.
These insights contrast past predictions on industry risks with the current dynamics surrounding Ethena.
MakerDAO, the governing body of the popular DAI stablecoin, is contemplating a substantial allocation of 600 million DAI to the fast-growing USDe synthetic dollar stablecoin via Morpho Labs.
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The crypto market has sustained remarkable growth since the beginning of the year, with the stablecoin sector showcasing significant expansion.
According to DeFiLlama, the stablecoin supply has surged by nearly $20 billion since the year’s outset, reaching over $150 billion.
Ethena is set to launch a new airdrop, marking the next phase in its expansion following the success of its synthetic stablecoin, USDe.
The company announced that April 2, 2024, will commence the decentralization of Ethena Protocol, introducing its native token, ENA, to its community.
BadgerDAO has partnered with Lido Finance to launch a new Bitcoin-pegged stablecoin, eBTC.
This initiative marks a novel approach to Bitcoin loans, leveraging Ethereum’s blockchain through Lido’s staked ETH token (stETH) as backing.
Ethena Lab’s stablecoin USDe has surged to a market capitalization of half a billion dollars, as nearly half of the tokens are committed to staking, enhancing the project’s resilience.
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Ethena Labs’ recent launch of the USDe stablecoin has sparked widespread debate. Investors are notably apprehensive about its 27.6% annual yield.
With the mainnet launch on February 19, the Ethereum-based USDe offers a return far exceeding the norm.
A crypto analyst has provided insights into how the structure of the Ethereum ecosystem could bring Bitcoin and the broader crypto market down.
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